Washington, D.C. – Energy and Commerce Ranking Member Frank Pallone, Jr. (D-NJ) released the following statement today following President Trump’s decision to default on the Cost-Sharing Reduction (CSR) payments that help millions of Americans purchase health insurance:

“President Trump's decision to end payments for cost-sharing reductions is a malicious and irresponsible act of sabotage that will harm millions of Americans across the country. Cutting off cost-sharing payments will have dire consequences for the Marketplaces, and will result in rising costs, market disruption, and potentially millions of Americans losing their health insurance. Working families who are struggling to make ends meet and pay their healthcare costs will now be faced with skyrocketing premiums.

“I urge my Republican colleagues, including Speaker Ryan and Chairman Walden, to act quickly to reverse this decision. It is wholly within their power to do so, and failure to act will be a failure of leadership that Americans will not forget.”